Nigeria's inflation rate has climbed to 15.93% as of May 2026, with food inflation soaring to 16.96%. Experts urge urgent government action to address this crisis.
Rising energy, shipping and transport costs linked to the Iran-Israel-US conflict could increase food prices and pressure Nigerian traders and farmers.
The Nigerian naira's fluctuations against the dollar are causing rising costs for businesses, especially in the food sector.
Rising fares, longer journeys and weak public transport are forcing Nigerian commuters to bear the cost of years of poor planning and policy failure.